"Invesco FTSE RAFI US 1000 UCITS ETF Dist" is an exchange-traded investment fund (ETF). It refers to the FTSE RAFI US 1000 Index. This index reflects the development of US American stocks with "value" characteristics . The ETF replicates its index using full physical replication, so it contains all the securities of its reference index. The ETF's earnings (dividends) are distributed to the investors. The fund company Invesco claims a total expense ratio (TER) of 0.39% per year. The yearly average divergence from the index performance (Tracking Difference) since 2008 was 0.33% per year. Therefore, the ETF was less expensive than the TER suggests.